FINANCIAL EXPRESS - 15th October

SUBMITTED BY:
JAYATI JINDAL
SECTION I
Group:9

NEWS
Ministry, AERA split over tariffs
The civil aviation ministry has sought a clarification from the Airpor tEconomic Regulatory Authority(AERA)for allegedly overstepping its mandate on fixing aeronautical tariff .
their was disagreement between the two over a suitable methodology to fix airport tariffa cross the major airports.
Raja's move on USOF to benefit only 1 company
Telecom minister A Raj controversial minister now wants money from the Universal Service Obligation (USO) Fund meant to promote rural telephony to be allocated to telecom tower companies under certain norms which, if implemented, would benefit only a single company.

The minister has asked USOF administrator Ajay Bhattacharya to make it mandatory that only those who build towers under phase-2 of the project — worthRs5,000crore—–which use Renewable energy sources in rural areas with population up to 500 would get grants.

Bhattacharya has refused to make the changes as it would limit the number of applicants to just one.
Now, Indians extend tales of success to global NGOs
After making their mark in leading multinationals,IIMand IIT alumni are now taking their success stories a step further and heading some of the most influential international nonprofit organisations, helping them tackle challenges ranging from protection of human rights to mitigating climate change.
DMRC moots Rs 1,000-cr fund to help reduce debt
DMRC is currently burdened with nearly Rs 16,000 crore borrowings
IT has to borrow more as it has to develop six additional corridors which will cost more than Rs 21,000 crore. The debt-equity ratio of the Delhi Metro project is 2:1.
Delhi Metro Rail Corporation (DMRC) has asked the Delhi government to create a special fund to help the company reduce its debt burden
legal notes SC notice to Sebi over ban on non-brokers
Sebi on a petition challenging its power to debar non-brokers from trading in the securities market and to penalise them for unfair trade practices.

CORPORATE AND MARKET
Skoda mulls tie-up with Maruti for small cars

Govt to pay brokers IPO commission in 45 days
Earlier, the payment release used to take five to six months but now the government has fast tracked the commission payment system for brokers.“ For smaller issues the commission will be released within a month while for large issues it would be 45 days,” disinvestment secretary,Sumit Bose said.

World Monuments Fund honours Ratan Tata

Parle ITC grid up for snacks war
fight multinational competition in the branded snacks sector in India

Parle Products has re-branded its existing snack brands Musst Chips and Musst Stix as Parle Chips and Fulltoss respectively

Parle Produts is getting ready to launch an aggressive mass media campaign next month

Brokers' NBFC arms issue Rs 3,000-cr CP
NBFC arms of brokerages are rushing to borrow money via commercial paper and have picked up close to Rs 3,000 crore.
Indeed, interest rates have shot up in the short-term money markettoaround 8.5-9%
Some players fear there could be a shortage of liquidity.
Rising costs to hurt mid-cap companies
Profit growth of mid-cap Indian firms in theSeptember quarter is likely to be pressured by risings costs, but sectors such as auto parts and construction could see robust growth
While cement and sugar makers will be laggards, and may even post losses
SMALL AND MEDIUM BUSINESS
SME EXCHANGE The viability test
The poor market response to OTCEI and Indo-Next experiments call for a cautious approach to SME platform
Taxes on imports, products and trade
Queries on taxation and foreign trade regulations, addressed by Ernst & Young
MONEY AND BANKING
L&TInfraplansRs700cr infrastructurebondissue

Market roundup Rupee, yields rise:Re strengthens 0.9% to 44.12 touching a two-year high
Axis Bank Q2 net up 38%

STOCK MARKET
SENSEX :
Was 20345 pts fell by 152 pts
NIFTY:
Was 26126 pts Fell by 51pts